Chicago Daily Tribune Newspaper, September 27, 1873, Page 1

. The Chicagoe Daily TEibnne, VOLUME 27. DEPOflTORS. OLARKE, LAYTON & CO., until furthor notice, will soll first-class Chicago Roal Estato at tho lowest markoet prices, or Houses and Lots and Unimproved Lota at Washing- ton Heights, and take the cash pay- meonts in books and checks on any of the Chicago Savings Banks. There is no bottor or safor investment than Chicago Real Estate. Certifled Checks on the Cook County National Bank and Union National Bank, taken as cash on all gales by us. CLARKE, LAYTON & CO., No, 120 LaSalle-st. T0 SAVINGS AND NATIONAL BANK DEPOSITORS. R. P. BLANCHARD, 158 LA SALLE-ST., Mas property in all partsof tho eity and suburbs, which o will soll ehicap, taking as cash ono-hall ar moro or loss of sour balanco in bank, and agroeing to walt at losat six months bofore drawiug for any portion of the amount tranaferred to him, thus giving your banks more timo to zcalize on thelr collatorals and better sscuring the ro- wsindor of your balanco. R. P, BLANCHARD, Roal Estato and Loan Broker, 13 LaSallo-at, REAL ESTATE THE ONLY SAFE INVESTHENT IN TIMES LIEE THESE. HUNTER, CANNON & CO., 137 LoSalle-st., Room 4, Will solt Iots of all sizes, from 25 foot, to Lalf acros and acres, \u go0d loculitics in this city and on raiironds just outsido clty limits, at CASIE PRIOES and un vory onsy torma, and will roceise for tirat payment Corlifieates of Brpostt, Hosks, aud Qlivcke on Savings inas, or Gliogks of National Banks, Title in al roperty porioct. 3 siracts tu dato, Tl EASNONE ol To Depositors in National and Savings Banks. SNYDER & LEE, Real Estato Agon's, hava for ealo in the sovornl divistns of tho clty, Aud suburbs, sovorsl hundiod cheico cosidenco lots, which thoy will sol) chougy, and ou osey torme, and take fa partialor full pymonr, Sbitafiod cauckn o6 niy of the Ohleago National fisnkn, of Books of auy of tho Savings Danks of tho city. Wo atew offer somo magnliicont Invostmonts in acre properiy, surs faivancon valuc, i tha same terma. Now i (s limo a placo yuur mnnoy wiicrs 1t will pay you a larger porcen hnn’ uy invosiment in llnc\(:'or {lflmll. fix\‘mm& {zon Building, N. . cornor of Muuroo and FINANCIAL, Adam Smith &, Bankers, First National Bank Building, sonhwest corner of Stale and Wasninglon-§1s,, Ghitago, Deelers in Gold and Silver Bullion, Bar, T.enf, Sheet, and Granulsted Form for me- chanical purposes. \ Deposits rocolyod in_either ourrency or ooin, subject to check without notico. 8ix per cent interest allowed on all daily ey s pass through the Olearin ecks upon us pass through the Olearing- House, ns if drawn upou any city bank. Interest oredited, and accounts-current rendered monthly. Coin and Ourrency Drafts on Now York. IDIRA 105 CLARK-ST., Mcthodist Chiurch Block. Six per eent interest allowod on deposits, pryable seml- aanually, July 1 and Jaa. 11n each year, 61O, SCOVILLE, Proaldent. ‘Wi, Krtsey Reen, Casliler, reber notico, any boy o girl calling a¢ rovuiitod wifh & pass book froo, And ono_ diingdoposttéd 10 his or bor orodit, Which sum ¢ag bo W out at ploasuro, To De_]ggsitors. KELLOGG&, VOSWINKEL & (0., BANKTRS, Have just commonced business at 94 La- Balle.st., and offer to the public the conven- ience of their office, with its lar-proof Vault and Sate, RE. ILL EEDEWE DBEEL 8 RENQOY AND PAY OHEC! SAME; holding the currency in constant readiness for payment. A, W. BELLOGG, 3. P. YOSWINKEL DORSELEX, DI Wo collect claime of ave: rintion against throughuut tha United B nd Canadas, and publis) tho namos of thoso who dun't pay. Seml-snnual roport now_rendy for delivory to subsorihors, STER' BEREANTILE COLLECTION AGENCY, 146 Madisun: artlos Fubiian 5 | EXPOSITION! REMEMBER THAT To the Exposition every Saturday (all dsy and evenlng) Are for Adults,25¢; Children, 15¢. Eveniug Papors ploase cops. INVALIDS. Wha bavo roturnod from tho Springs unimpraved in R A W ELECTRO CHE 3 fe, 706 Wabash-av. nd yeemuniont rolfef. _ Call or sond immo. clrctilar, IRON PIPE, PUMPS, &o: WALWORTH, BROOKS & (0, 243 & 2456 Lake-st., OEICAGO. TWROUGELT Iron Pipe, Pittings; Valves, &o., For Stoam, Gas and Water, STEAM PUMPS, For Feoding Botlors, Protection from Firo, and othor usos. ENGINES, BOILERS, BELTING, HOSE, &c. Bolo Agents for Otis, Bro, Eatoty Klavators, Branford Malioablo Iron Fittings Rumsoy & Co.'a Pumps; alo, Contraotors for Stoam Teating and Vontllatin it Oo.'s Now York Bteam . ‘Catatognos, Listimatos, and InformAtion on application. _Wrougtit fron Pipe, by tho car-load ur {0 1argo lots, at bottom prices. DRESS GOODS. SPECIAL BARGAINR Dress Goods For the Next Two Weeks. HAMLIN, HALE AND COMPANY Will offer of recent purchases Seventy-five Cases Beautiful Fall Dress Goods, of new styles and colorings appropriate for the season, and at prices decidedly cheap. MADISON AND FRANKLIN-STS, GENERAL NOTIGCES. TICKETS OF ADMISSION TO TEEHE EXPORITION, The following will bo the rogulations in rogard to ad- ‘misslon to the Exposition. Tickots will be lssued as fol- lows: EXHIBITORS’ TIOKETS, Admitting an oxhibitor only, atany timo during exhibl- tion hours, and positively not transfarable, $10. BEASON COMMUTATION TIOCKETS, Good for thirty admisstons, 810, SINGLE TICKETS, Admitting the holder to tho Bullding, with privilege of remalning through the day and evoning, oxcopt as here- insfter specified, adults, 0 cents; children, 25 conta, SINGLE TIOKETS FOR BATURDAYS Admitting the holder to the Building, with privilogo of ramaining threugh the day and evening, except as spacl fiod below, adults, 25 oonts; ehildron, 16 conts. EMPLOYES' TICKETS, Roglstered and not tranafarablo, and good for fortyad- misalons, may be purchased by Exhibitars ouly, for the excluatye uso of porsons in thoir omploy in tho Building, on wriiton spplicstion to the Ohstrmen of Esecutive Committoe, $4. Evory Exhibitor's and Ermploye’s Tickot will bo regis- tored by suimnbor and the name of purchaser, and if pro- sonted by any othor person will be forfvited. ‘When Special Entertainments for ovenings are fo be @lven, the Building may bo closed at 5 o'clock p. m., and the prico of admisslon for the susulag evening increased. Tickets will bo on salo at the Ticket Offices, igan-av, nesr the foot of Jackson and Moaroe. at the Adama-at. ontrance. Exhibltors' and Season Cammutation Tlckots will also bo suld at the Tresturor's Officoin the Bullding. The ontrance to the Building for Visitorsand Ezhibitors 1s st Adams-st, only. Euita st either end of the Bulldiug. Carriags exlt st Sout RETATL CROCERS MERTING On account of the oxisting financial orisis, about 80 of tho londing rotall grocera of tho South Side held » moot~ {ng on lant ovoning at tho Bigelow Huuso (on Wabash-nv, butweon Twonty-nrst and ‘Twuniy:sccond-sts.), to adont m ires for the continuance of the retall trads without embarrsssment. The oxprension of the dealers was that a1l salea bo mada hencoforth for cash, A commitico wag appointed to draft resolutions for a pormanent Grocors' Lxclisnye, and 10 ropari the Blgelow Houso mu Moal oning' &t 8 p. m. rotall grocers, butchors, an Siarkotinon arb cordiatly fuvitod 6o attend. "ICE. ICE. ICE. ICE. Packers and Brewers wanting large quan- tition of Too for tho ramuindor 5 {'x‘.,fu;flfi%‘;. oan make aontroots at_low figures by cal £ % JorE, -8 at AB, P, BMITH & 161 LaSall REMOVALS, REMOVAL! ‘W now ocoupy the Elogant and Spacious Btane Front Store known as Nos. 52 and 54 LAKE-ST., fourdoors east of State-st.,front~ ing south, whore wo will bo pleased to wol- come all our numerous triends and oustom- ery, during and after the Grand Exposition. E. BURNHAM & SON. Chicago. Sopt. 35, 1473. WANTED, ANTED-AGENTS--FIGOM 875))| to 3240 por mouth, evorywhers, to soll ono | of tho most usoful artloles cvor {nvontod needed fn ovory famlly. Sond for Clrou Iar. Address, SECOMB & 00., 167 Btato-st., CIOAGO, I1l, DISSOLUTION NOTICE. e DISSOLUTION NOTIO DISSOLUTION. Natico 16 horay gleen that tho copartuorahip horsto: Joro usisting undur fho sicm namo and style of Rixon & Bohwarz, rotall kardwaro dualurs, at 533 Milwaukeo-av., da tho Gty of Clitcaga, In this day d h fasolvod by mutund Lo the O it “Oharlos Iefson oy fa' antiineisod 1o olleot th ontatandlng scouunts, sud will psy all liabill JULKS BONVWARZ, T Ao sald firm. m('l‘h%lx Hopt, 34, 1873, FOR STOV HS. Burnor, the ** King of fitoves, " f "’f;h:‘Amer‘lcln Baso Burner, the e Ko 'i&LIZ'l‘l‘B. lor 819 Btate-st,, curnor ol Congrosa. JUST RECEIVED BY Van Sohnack, Btevenson & RBeid, th vofoo of Porry's justly colobrated M A o dots i Ebe Honsds: PRINTING. FINE BOOK AND 10 PRINTING. COLVER, PAGE, TOTHE & 1, 118 and 120 ) TMER v pricny v PN £ RTINS nd” Rotall Biaflonors, Printors, and Blsuk faotirors, 166 Ulsrk. Dr. Mary H. Thoinpson Has roturned to tho city, and will seo hor friends as usual at hor rosi- dence, 338 Wost Washington-st. HATS, o BREWSTER'S HATS, NORTHWEST CORNER Clark and Madison-sts. onroc- N i CHICAGO, SATURDAY, SEPT GIFT CONOERT. Grandest Scheme Ever Known, FOURTEL rand Gift Goner FOR TN BENEFIT OF THE PUBLIC LIBRARY OF KENTUCKY. 12,000 CASH GIFTS. $1,500,000. Chances One in Five, The Trustees of o PURLIC LIBRARY OF KEN- TUCKY, undor authority of a llpucinl aot of the Leglsla. ture, whlch becamo a law Masch 16, 1871, undortook fo os- tabifsh o grost {ren Hiury n Louisillo, Ky., by moans a tive Gt Concorts: and as an inducomont to 1he extonalvo #alo of tickuis, thioy woro empnwored by tho samo act to distributo oash gifts by lot ot theso conogris to suoh por- #ans ns shiould bity tho tickots, 'Throo of these ovticorts Tave siready boon kivon the first Docomber1s, 1871, when 192,600, dividod Into 73l gilts, wore distributdd; tiio soa- which 1,000 cash gilts,smount. ing to $316,000, wore' distributed; and tho third July 8 1b78, when tho sum of 00 _in'cash was divided futo Tu0d0 onan glta, P g R R T R wldors. ‘Tho Capital Gite of 8100,000 was deawn by M. L, 1T, Koith, of Kingaton, Mass., who purchased 11 ticketa Barols 15, 1624, fue witich ho patd $100. - tix ordor for tho tickota was a Iottar from him' diroct to tho maln otlico at Louisvillo fnclosing tho 8100, Among the tiokots sont to him by registerod lottor waa No. 20,85, whiel drow tho 100,004, and alao nombors 20,168 ad 23,469, which drow '0n tho 3lat of July, 178, Mr. Keith mudo bls appoaratico In Loulavilio, nnd was introuucod by Mr. O. 17 Uarvy, of the tirm of Tlarvoy & a woll-krown oftizon of 1outsvillo, whon o was p Tiio socond it ot §K,000 w Worlay, of Giles Gouaty, Tona. Mr. Worloy wroto 6 lottor from the Houss of Roprasen At Nashsillo, Toun., to the main oflicoat Loviavillo, nslosing B10'for a tioket. g, ticket sent him wed '5,630, which drow 0 850,000, On tho 19th of July, 1833, Mr. Worley sent on his tckot through tho National Bank of Pulaskl, Tenn., and was pald hin 360, 00. ‘Tho third gift of $35, 00 W!i:grl\\mrl:‘y 4 Sr. 0, X, Knaop, jior Morchiants, i this oity. On the 7th of July Mr. 'nn»? purchased 11 tickota, for which ho paid ®100. Une of thoso tickots was No. 64,170, which drew tho $25,000; another, No.63, U85, which drov 3100, and Mr. Konpn also' bold tho fourth of tickot No. 21,517, whioh drow $3.00, < o fost1l"giivol 3,000 was sold by ooy Witken, Cuahifer of the National iank of Lobanon, K., fa o party af geatlomon In sud avout. tuat city. ' Mir. ' Wilkon ore dored a number of tickets for citizons thero, and among them got No, 31,764, which drow the $30, 00, qubio othor Zis wGr drawi by porsuta scaftorod all ovor 0 world. All Tioso gifts woro promptly paid, without any dia. count, on_ prescutation af thu tckets ontitiod to tho and tho balanoo of tho gross pracecdn from the salos of tlokets, loss expenses, was apprupriatod 1o tho use of tho hraty. "To thid end that tho Library, Musoum, and sub-dopart- ments under thom uiaybo enliried to dicle full capucty cap of usofnlness, and placed upon such a footing that thoy may torover bo on tha increase, A Fourth Grand Gtt Concert For _the bonofit of the PUBLIC LIBRARY OF 'fi.x‘f,‘f.; x‘.t&i‘.‘l:’.‘fé{"i’«‘?.‘.‘fin‘" come off {n Public ‘Wednesday, December 3, 1873, At this Concort tho.biost musio that can bo affordod b, s grand Orcliestral Baud will ontortain tho audionco, an tho unprecedentod sum of ONE MOLLIOY AND FIVE HUNDRED THOUSAND DOLLARS n carroncy, dividod into 12,000 cash gift 200,000, 1hie highest, down 1o $20, the lowe tribitad by lot uuon thy tickot-holders, EN. brary o LIST OF GIFTS. GRAND CASH GIFT. GICAND CASH GLET., ONE GIRRAND CASII GIFT. 25,000 ONE GRAND CASE 17,600 10 Cash 100,000 30 Cash Gifts, 5,000 eneh 160,000 60 Cash 1, 1,000 e 50,000 80 Cush Gitts, 5600 enc! 40,001 100 Cash Gifts, 400 cach 40,000 150 Cush i 300 ench 45,000 260 Cush Gifts, 200 encl 60,000 325 Cush Gifts, 100 ench, 82,5600 11,000 Cash Gatts, Tosnl, 12,000 Gifts, ALL CASH, umounting to,, r0e00e 81,600,000 Tho entiro numbor of tickets insuod i only 60,000, Each tiokot ounele.s of ton fractioual parte, oz caupuns, into whioh v may bu divled by outting thriugly thy hoftzon. 1uos loft for that purposo. 'ho holder of a wholo ticket is entitled to admissivn to the Concort, and to'tho wholo of any gift it may draw, Tl holder of cach fractional part, or ceubon, i entitlsd to agmission to tha Coucort and to ouo-toath of the glit the wholo ticket may e PRICE OF TICKETS. Wholo Tickots, #50,00; Halvos, 836.00; Tontly, or onch coupun, B5.003 Eloven Wholo [Tickots’ for Bo.00: 23 Flokots for &1,00:00; 113 Wholo Tickets for 85, 0.0 22 ‘Whiolo Tickots for 810, 000,00, Ina causo of such philanthrophy ss tho establishing and endowing uf a groat Library and Musoum, with ki Qred” dopactiuunte, 10 Do forover freo o evar! whon thu chancos of thoso who buy the ticksts ‘are vo reat Lo muke monvy, whilo they tako so Mttle risk, it is ollovod that avery kot will bo soid boforo 1he uay fixed for tho Congert and Distributton: but whotbor all ars sold or not tho drawing will novectholuss take placo, Should auy tlokots rumait unsold ou tho day of the drairing thoy Wil bo destroyod, aud alt the offered gits, 12,000 in nume Bor, wil bo drawh, but dininisied in valdo In propertion 10,10 amount o wosold tiokets. Mor oxample. $t only Liall of the tiokota are suld, the othor hall will be de- atroyod ‘snd tho gilta reduoed, not {n uumber, but in Saltio ono-half. Lo enpital gift in thiat event would be 123,000, instand of 300,000, aud all tho athor gfts In the samb proportion. Al wlll sco that this would be perfoot. 1y fair, bocauss tiro cbanocs of drawing gifts would bo Ihoroasod In favor of tha tickot-olders, fustin propuriion to the reduction in thele valu i) tho tioketa Ao sold tiio oniascon (or the gifin are s 1 to6, but it only half ara 2uld,” and tha othor half deatroyud, tho chancos o thio tokbt-holdurs busomo ay § to % nlys Safe Keeping of the Money. Tho PARMIERS! AND DROVERS' BANK OF LOUIS. VILLE IS TREASURER, and all monoys arislug from tho a0 of tickets will by plaged thoru to romain as & epocial deponit until the Unncert is over and all the gifte Tully “provided for, and thon subjoct ouly to tho jolnte chuek of the Agun and Business Managor of the Con- cost, ungd tho Grosidunt and Trensurorof the Pablis Li- brary. Iho wunagomout {s not dupondent unon thy salo of tickots fur thu Hoaun of payiug oxpumuue, but la amply provided with funds now on doposit tn_tho Farumors’ un Drosers' Hunk for that purposo, ' The entise pracosds of thusalo of tiokots will stand untouchod in Hank as a guarauteo for tho paymant of all tho olforod kits, PAYMENT OF GIFTS. Tho paylug of gllts will brgin tho 34 day after tho denw- %‘\'h“"" continuu six monthy thurcafter and na longor o uts ontitled to gitls wun cd or suut to Room' No, 4, Public Fibra Toubwille, Ky., where th kon up Unsh Clicaks al and paid D Gvon Hho Farmors! aud Deovers® Hauk ot Lauisvillo, or by aiglit drafta upon tho Fourth Nativnal Haok of N atourcout ratcs of axohungo, at the option of the holdor: Nu kit will bo paft witliont dolivery of the ticket onthilod tolt, and all glits uot called for withiu six montiis from ‘drawiog Wil b turiiod ovur (o tho Publio ibrary ho Trusteos havo scourod tho sorvigos of fon, TIOS. 12 BRAMLETTI lato Guveraor of Kontuoky, 1o aot as thiole Agont ‘fu tho financla) affairs of this Grand Gt Gancart. Gov, Hraulatty (s kuuwi (0 alincat wveey ana 1 Kontueky, and o vory wany of o ohfzous of othor Etatos in the Unlon, and ho fs authorlzed to oo thi.: the alo of tickuts 1s doporlied it tho Deavors' Bank, to romalit for tha paymont o1 tho offored kifts, and alab 1o aco that 1ho draving f8 fuiry conduoted and tho gitts Justly swardod and prompt drawing will be publishod fn Taulsrllo and Now o1k papers, und nficlsl copius, printud fu olrculur forin, will o sout by winil to thoss out of tho city who lisve ort dored tlokutaby Tottor, and to_ovory tivkatuldor whose oy Post Omeo {a . All communioations enunootu yts tho Conouet, anid ardors fur tickote, and appllcs: tlwns of Agonts to'sull tiokots, should bo addresso Iion, THOS, B, BRAMLETTE, Agont Publio Libesry Kontuck pubie Libse Bulldiag, Tuwiils, Ky, THE BANKS. Chicago the Centre of In- terest and Excitement Yesterday. TheStruggle Against Ruin Generally Successful, But the Scarcity of Cur- rency Still Con- tinues. Temporary Suspension of Five Chicago Nationals. The Strong Banks Grow Stronger; the Weak Ones Lie Down. Bankers' Meeting Last Even- ing, at Which Suspen- sio Was Repu- diated, Various Propositions Looking to the Issuing of Loan Certificates, The Arrival in Chicago of $1,000,000 of Cur- rency. Interviews with Prominent Bankers and Busi- ness Men. The Whereabouts of the City’s Deposits Explained by Mr. Gage. The Corn Exchange National Passes Through a “Run” with Flying Colors. The Manufacturers® Nation= al NHermetically Sealed. Loan Certificates and Certified Cheoks Become Ourrency at Many Points, The Situation in New Yerk Much More Encouraging. Favorable Reports from the Country Banks in the Northwest. Southern Banks Generally Adopting the Policy Pursued in New York. The Condition of the Firm of Jay Cooke & Co, and the Union Trust Company, CHICAGO. THE BANKERS' MEFTING. A largely~attended meoting of baukers waa held Iast evouing at tho offlco of tho Clesring-Houso Assacl- ation, on Bouth Clark streot, Among the gontlemen prescnt were Mr, Gage, Cashier of tho Jirst National; 1ra Holmes, President of the Manufacturers' National, D, F, Allen aud Chauncey T, Dowen, of the Qook County Natlonal; Mr. Smith, of the Corn Exchango Natlonal; P, O, Maynard, of tho No~ tonal Bank of Commorce; BSol Smith, of the Loan & Trust Compauy; Mr. P, L. Forrost Caabifor of the Hide and Leathor National Dank; M, Nash, of tho Bank of Illinols; J, V, Clarke, Prosidont, and Mr, Dox, Oashior of tho Hibernlan Bank; G, L, Qtis, of the Commercial Nutional Bank ; Mr, Tollman of tho Traders' National Bank; Alfred Spivk, Dank Examiner; Mr, McGregor, of the Bocond National Bunk; O, D, Moyer, of tho Pralre Stato Loun & Trust Company; J. M, Adeit, Georgs Sturgls, and Willism Bturgls, of the Northwestern National Bauk ; Mr, Qurtls, Dircotor, snd J, Irving ' Posrco, Iros- ident, of tho Third Nutiomal; J, McKay Baw- yer, of the Contral; Mosers, Togo aud Georgo Taylor, of tho Fourth National; Jullan F. Rumsoy, of tho Corn Exchango National; Mr, Hen- rotin, of tho Merchonts' National; Mr, Eadicott, of tho Becond National, ! Tho roll-call showed the following banks unropre- seuted ; Fifth Natlonal, Dank of Montreal, Intorustion. o], and Btate Bayings Tustitution, Mz, Sob, Buith, YPrealdent of {ho Association, ocou. pled tho chalr, Tho preliminury business was tho question of admitting 1o tho meoting certain gontlomen who were not mermbors of (o Assoclatfon, Upon tho motlon of Mr, Jullin 8, Rumsoy, it was Qecided o admit reporters and ofticers of bunke, This question comfortably decided upon, the meoting was declared open for busiucss, & In calling tho meeting to order, Mr, Smith stated tbat it waa originally culled at tho sugueation of soms of tho banks, for tho purposo of considering the sub- Seatof loan cortificatos, MR, 0AGE, OF THE ¥IRET NATIONAL, #0ld he Jolned in calling the moeling for e purposo MBER 27, 1873. of carcfully considoring an important question to overy banker—that of {ssuing loan corlificates, New York Lind Imued (hem, ond its fusnelol condition soomed to bo slowly mproving in consequence, Ac- cording Lo Intest dispatctics, confidenca ws bolng rap- taly rostorod In that cily, It remained to bo scen whother 3t would not bo well to iasuo thom hero, There wis much to bo sild in thelr favor, whilo thers might be eomething to be said ogninst them, It thoy would ef- fock tho purposs of taying tho withdrawsl of curron- cy from the banks and save bankors from suspension, 1t waa tho duty of tho meoting to adopt them, provided thioro wero not ovils In tho adoption greater than thoso which wero scught to bo cured. 1t Now York, aftor n woek's oxperlenco of tho certificates, waa satlsfiod with them, Ghicogo cortatnly ought to dorivo bonefit from them, unloss there wero local conditions hero which do not oxist thoto, St Louts had slso Issucd cortifi- cates, but they had not been sufMelently long in uso to cnablo tho bankers of that elty to form an cstimate of Leir value, A BPEOIMEN, BEr, Gago waa nsked toglvo tho form of tha cortifl- enten fsauied In Now York, which queation was answer- ed by the Secretary feading o spocimen transmitted by totegraph as follows ¢ 4 No, ——, Losn Committeo of the New York Glearing-TTauso Asocintion, Now York, Date ——. This certifica that tho has deposited with this Committeosectritica in nccordanco with tho proceed= ings of s meeting of the Association hold Sept, 20, 1873, wupon which this certificate is fgaued, This ccrl‘fltnm will'be recelved in payment of balances at the Clear- ing-House for the sum of thourand dollars from any momber of tho Olenring-Touso Asscelation until Nov. 1,1873, In tho surrender of (his certifiento by the depositing bank above named, the Committce will indorso tho amount 8a a poyment’ os the obligation of 881d bank held by them, and surronder o proportion= ato aliare of tho collatora] securities held therefor. Thin certificato may also be redsemed prior to tho st of November if desired, (8igned by all tho members of the Committee.") It s fndoreed on tho back, * Paid to tho Olesring- House, dnte —— by — conditions of surrender,” in fino print, opposito the signatures, Tho following wha then_submitied ¢ ‘Wo, tho underslgned banks and bankors, mem- Dors of tho Chieago: Olearing-Houro Assoclation, Leres Dy agreo to reccive, In payment of credit-blanices at the Clu.\riuq-flo“m: evidences of indebicdncss to bo known a8 * Loan Gortificates,” to bo issuod from timo to time by the respective ks and bankers in nyment of deblt balances ot tiro Clepring-House, sub- fm to the rules and regulations below noted, to-wit & First—We hereby sppoint a committee, to be known as ‘‘ The Loan Ceriificate Committee,” who shall hold in trust such securities os may bo lodged with thom a8 such_Commitice, by mombers of tho Clearing-louso Assoclation, who miny, froin time to time, propose to inunio ** loax! cortificaten,” s horeln contemplnted, Second—Any member just dopositing with said Committeo negotiable ecuritios or good billa recefve able, may issuo **loan certificates® ofter tho manner and form below indicated, to an amount not exceed ng — per cent (in ho cetimation of eaid Coni- m“‘llnn)l of the fair market value of the sccuritics 50 do- posited, Third—Tho “loan cortificates® g0 lesed shall Lo coutteraigned by at least threg mombers of said Com- mittes, accord/ng to tho form bolow givon. Foupth—Unill further ngreed, no member shall fauio loan cortificates to an_amount oxceeding a aum equal to — por cent of said momber’s gross Hability to doposltora (city oud country), 48 shown by Lis books on tho 18th day of tho presont month, Fifth—This ngreement eboll not bo in foreo on and after— noxt, and may at any prior time theroto bo altered, amended, or revoked by tho joint nction of two-thirds of the members in active relation with tho Cloaring-Houso. Sizth—Any oxpenses fncidental to tho_carrying out of tho abavo slistl bo pald to the Committca by tho members fssuing_certificates, In proportion to the amount the certificatea they may iesue shall bear to the total amount fssucd. Following is the form of the certificnte: ©nicA00, ——, 1873,—This certifica that —— 48 indobted to tho holder in the sum of ——— dollars, paynble on or befors Dec. 1 noxt. 1In pledgo far the poayment of which collateral security haa been deposit ed with tho “ Loan Certificnto Commitico ™ of tho Chi- cogo Olearing-Iouso Assoclation .« , Prestdent, Tho certificate t4 {ndorscd on the back ns followa: This certificate is entitled to the proportion of the collateral pledged as sccurity to the redemption hereof, M. 0, I, DLAI, Presient of {ho Merchants' National Bank, camo inat this time, and, when the object for which the meeting had been callod was expiafued to him, ho swid ho could not eco Lis way out of tho présent troublo with loan certificates, He could not see how balances’ could be pald in that woy. Tho people wanted money or stock, Then the certificates could not bo got up in time to make them of uso., At the present time monoy could not be rafsod in Chiengo on the best securitfes ; how, then, conld & man raise money on those certificates 7 Ho wes 0pposod to them, Tho banks were in good con. dition, Tley bad beed harmed by the reports of the mecting tho other evening, when thoy were gotting along nicoly. That tho country peoplo wero ealling for thefr money was entirely due to the reports of that mecting, What he wanted to know was, how a mon could gt money on tho proposed cortificates? Ho for ono would not_shut up his bank while he hind a dollur to pay out, The failuro of the Union Bank had done great injury to tlho entire bueluess, Ho Delioved thero was no necessity for its suspension or tho suspension of any other bauk in the cit) ‘The couniry wad never richer than now, Tho West never hind o better prospect before it, if currency could bo sacured with which to movo crops. There was Just a8 much currency in the country now ng there was six months ago, ond Now York clalms it s fn tho West. Whero in tho West woa it? A good deal of it was In the Fidelity Bafe Depository, where it was belng lourded by persons who were afraid to trust the bank- ers, Dut tho bauks, in Lla opinfon, wero really strong,—stronger, probably, thon the managers them. gelves thought, Ho belleved thoy would get aut of their present difficulties, but he’ could not ses how this {ssuance of Clearing-House certificates would bolp them in sny way, Ho- would 1iko to liavo it ox- plained to him, nd would liko the mecting to consider the fact that lhmn(vlu did mot have sullicient gonfl dence tu tho bunks, 30, GREENEDADM took excoption to portions of Mr, Blnir's remarks, He could not understand that gentiemsn's DEpDM n to the certificates, and believed ho was mistaken when he sald tho peoplo bnd no confidenco in the banks, Ho thought tho baukers Led no confidenco fn themselves. Mr. Dialr inquired what Induced Mr, Greencbsum {0 8ay the Chicago bunks bad no confidesice 1n one an- othier, Mo thought tho banks had scled falrly to one anothor, Br. Greenobaum moved that Clearing-Houso loan cortificates be dssucd by tho Association., Br. Ratter moved {liat Bank Examiner Spink mako a stutement of tho conditson of tho banks at tho pres- ent momient, Tho motlon was agreed o, . M, PINK satd it wos ot vory ylcaasat poition to sasmze, to coma forwsrd ond make a etatoment, but ho folt it s duty to do s ' As he understood the matter, it was tho inten. tion of tbe meeting to o all in their power for tho community. Al selfish considorations should bo Inid asido, aud an entire ity of aotlon resolved upon, Thero wero some who could not bo broken, whilo otliors hind nlrosdy gone. If the community suffered in thie shirinkago of - values, thelr own values elrank, What remedy could apply? An_amplo remody was impossible, and tho bost that could be dono was to allay the axcitement, Thoro was a Iack of ability in Bomio banke, and {n othors o groat deal of prud- ence, The rst (Ling to do wis to add to the currency. Thore were many kinds of currency, legal-tender notes, and olhors, Why could not lam certificates do tho busincss, and give tho Lanks moro currcucy, When thia thing began to work, somothing must bo done to remove crops and Toplace things where they were, 1t was proposod that loan cortifl- cates bo issucd—what woro thoy but currency? To givo thom s suror valito they wore offered on n per- Ceutage of tho socurity offored for them, Exchsngo on Now York was a currency liko thoso cortificatoa, Ho thought it tho duty of tho bnks to do suything to ro- store confidenca, ~Tho propor checks wera thio vilio of tho sccurity, dotermined Ly 5 committeo, confining tho certlficates to absolute needs, by meand of charging 10 por cent intorcat, which would bavo that offéct, 1io desired to impress upon the meoting that tho siiuation was a very gravo ono, The exolte- ment cam from monoyed men, Unless immediato stopa ‘wera taken, thoro was 1o suying whoro {t would_end, Hiad thoro becn concort of action on Monday, the bankors woullalready luvo como aut with dlyiug " col- ora, Alr, Coolbugh had an fmmenso amount of cur— ronoy on land, and o sploudid class of bills re- coivatlo, This' thing could nat bo worse {lian tho fire, and oven fter that thoro woro vory fow' billn receivablo worth less flian ninety-five conla on tho dollar, Unleas tho oxcliemont wero al- tayed, tho calamity followlng would bo vory dreadfal, Concert of action wau uceded. ‘Tho situation was most ravo, “Iho apeakor wan appuded, Mr, Tuttor moved tho nppointment of a_Committeo conufutlug of Meksrs, Gugo, Buwyer, Pearce, Olarke, und Adait to considor tho qusktion of lontcortificates, and roport to tha meoling what it had beat to do, Mr, Guge nggested thill tho mombors bo first al- towed (o express thefs individuat opfutons, Mr, Greencbuumn called for tho question on fs mo- Hon (o fsmo Oleariig-Houso cartificatos which should 310t be legal tender of tho Clearing-Louso, AR, COULBAUG now suuntored quiotly fnto’ tho weeting and handed {lo G a comvaunleation, Whlels Vot read wa fol- ows t o Tk Pupuig,—We, tho undersigned restdont Dircotors of tho Union ' Natfounl Bank, of Chicugo, Hioruby declurs to o bl that o will b do ke~ by hold oursclves porvonally responsiblo is ndividunls £or 1o yayent of all tho doposlts now Lokd by suld bunk, or whilch may herenftor o mmado with {t. WIOIUN V. FARWELL, “WinLuas ¥, Cootpavas, #OALVIN 1, WHEELED, # ALnenT A, MusaEn “TlEsaN G) Powens, “ Asa b, KiLuey, 4 GLinToN Dtads, @ Janrs W, ODELT, “ Asa Daw," The manifesto was receiyed witlia show of applause, MT, GREENEDAUM'A MOTION, As Mr, Coolbwugh did not underatand the nature of Mr, Greenobaum's motlon, the latter gentleman put §t in writing, a8 follows ¢ W Resolved, That it In tho sense of {ho meoting that 4 Qlearing-Houso lonn certificaton’ bo faued by the mombers upon tho bnela of sald biils feccivable ad col- Iatorals, such cortificates not necossarily to be legal tender at tho Olearing-Honee,” Mr, J, V. Olarke offered tho following amendment, wiiich s accoptad by r, Greonshaum i “ Rtepolved, That the Olearing-Houso Assoclatlon s~ ntte upon proper scourities, and with proper guards and gunrautees, cerlificaten to bo called 'loan cer- tificaten,’ to bo tised in tho payment of Unlances at the Glearing-Hauso by thio aasociated banke," "Tho question, who sliall voto? waa raised, there bo- ing a diaposition to prohibit those banks which closod 1rom votfog, Boveral gentlemen snid they would not argue thoir Hght € tho majority of tho Association werd opposed, ‘Tlio gonoral exouno givon for closing was that 1t wia simply a precantionnry measure, 1t waa stafod that many of the banks which had clnsed wero fully a sonnd e thoso which bad not. Tho mansgers’ deas of prudenco differcd, perbaps, I, COOLDAUGH EXPLAINA, Dr. Coolbaugh sald tio reason why e Unfon No- ttonni did not mako its clearings in_tho morning was beeauae thoy wero afraid thoy conld not get their Luls ancos, Thoy did not get them tho dny before, and yeaterdny morning they held mora largely of tho checka of tho membera of tho Association thun the Associn- tion dld of theirs, 1f tho ropresentativaof the bank wan not allowed to voto, they would submit, Mr, Greenobaum snid the cloring of tho Unfon Na- tiounl Dunk hiad donos great deal created intenno public oxcltement, On motion of Ar. Gage, all were allowed to vato, TIE DALLOT, The_roll was then called, with the following Tesult : Yenr, 111 noge, B, % Tlio binks Yoting in h3" negative wore the Mer- clionta’ Natiomal Dank, tho Commereiol, {ho Mer= chianta, tho Corn Exchiange, J. M. Adsit, {ho Bank of Tilinols, tho Hido snd Leather, and the Unlon Trust Company. Threa other banks lind voted *'in tho aflir- mative, if unanimous," but, not being unanimous, the Vot was reversed, and tho'ameudment was lost, Mr, Greenobaum _sgain contended that there was a Inck of hnrmony among bankers, The volo showed thnt, Ho hnd fought ns well and bravely 08 ho could, and b lind Loped ihat tho mensuro of reliof proposed for all tho banks would be adapted. M, Adsit wonted to know if tho vota could bo made yuniious by peoviilug for o paymoni. of carrency to all who would pay curzency in roturn, MR, COOLUAUGH BAID ho tind endeavored on a fornier accasion to make hin views and position_on the financlal condition known. His opinfona thon wero basod on what bo decemed wero tho conditions of aurrounding citics and tho bu~ #i5 on which they did busincss. Sinco thon they had boon adviscd thiat tho banks of Cinclonatl ond St. Louls wore doing business on snothor be 6ido o currency bnsis, Ho belloved, in view of tho chamges mado by thove cltfos that 1t would bo 8 impossiblo for Chicago to do buafness on a currency Dosfs 0 it would bo for it to do business for the sur- roundiug country on a gold baals, For tho informi= tion of thoso preacnt, Lo Wwould fny that the statenicut that the Union Natlonal Dank had_$0,000,000 was of- Foncous. Thio entiro deposlts of tho 'bank smotinted 10%4,300,000, ot over 350,000 of which waa doubiful. Tu aixty dnys, $4,000,000 would mature, At tho pres- out tinie thoro whs in the bank §1,000,000, 1o made tho staloment becauso 1t wss duo to the mesoci- ted Lanks, and, Lesidos, the Unfon = National Tank wanted them to know that it was for from belng lonolvent, It doslred to_co-operat with the other banks in il practical measures, Ho Lad hoped that the meetlng would adopt unsnimously Bome meaaure for tho rellef of all, 0o hiad boea dono in olhier citior, It was Imperatively nocessary that somotbing of {ho kind should bodone, Wiy could they not act in barmony for tho public good 7 “If they falled to do {1, they would fail to do their duty. ~1ie Dad read a paper which thoy o)) know mado tho lin- Lilltics of tho Unlon Natlonal sound, Whero could aounder namea bo found than those spponded to_that document 2 All of them wero willng, If nccessary, to sucrifico thelr fortuncs to liow to tho public that they ‘meant to prov true to their trust, All that was nceded was concerted action on the part'of thebankers, and tho panic would bo quelled, If & proclamation could Do gent out to tho West showing that the Chicago bankors wore toact fn unanimity, 1t would restors public confidence and soltls tho inancial condition of this ontiro soction boyond poradventure, In less than o week, unlosa some concertad Action was_take, cur- rency drné!s of Glileaga would be at & premium of 4 or or cen Im answer to a question, Mr. Cooltmngh sald the Union National Bunk would atand shoulder to shouldor with tho ofbior bunks if ey showed ony desiro to act barmonfously. Tho statement was loudly applauded. 31N, ANITI FAILED TO SEE what rellef would come from theso sccuritles, Tokin tho posltion that in & week or ton days currenicy woul bo at o premium in St. Loula und Clucionati, how could checkn bo paid over tho counter, 1o would havo fo pay checks In currency, no in loan cortificates, Ho wunted £ 8o bis way before lio adopted s resolution which would ruin bim and other institutions, 1f ho wero to-day out of the banking institution ho repre- souted, ho would nover roturn to it, But ko would ot Lavo 1t undersiood that Lo opposed the rosoli- tion on solfiéh grounds, He belleved bis Intereat was in common with overy man in tho city. Tiut ho would not put himsclf in such a position, Tho {usuo of the Joan certificatos was virtually o susponsion. £ hio could ba_sliowed that loan certificates could bo turued {uto curroncy, ho would bo glad to voto for it. Mo was sorry that any insluuation hiad been made in Tegard to tho opposition, 30, GLATI SAID 1t wan tho duty of the larger bankers to como in. This ihing was dono in New York, and the securitics hero wero more quickly convertiblo into money,—in_twelvo Bours If neceagary, o miouey 1n o vty as food for notling, He would not take back whut bo said, MR, BMITH BALD he balfoved r. Coolbaugh was 5 eolid as any man n Clicago, but thiat was hot the question, If o Atso- clution wos to do any(hiug, it was somethivg thab must give relief. He might bo wrong, but how wa i to poy o balance to a correapondent in loan cortlti~ catea? If Lio could bo would bo hoppy to indorsa it, Tiow wero theso cerlificates to bo couverted to oy do- positors? Blow him this ond ho would freely voto for tho fesite, Mr. Spink wanted to know if the banks of Chicago could ot do what the banks of Boveral other citiea had don succesfully, MR, DLAIR ASKED how tho country banks wero to get thefr bnlances, Tho city banks would probubly be benefited by Isulug hio certificates and keoping cirrency in thelr vaults, but wonld the dopositors be bencfited? Whers wero they going to got currency 2 _How was the erop to be moved to tho seaboard? He bolleved the Chicago banke could pay, and como out all right, Tuo Now York banka had hot hut down entirely, MR, J, INVING PEATIOE safd all other cities lud suspended, He had bal- ances in Milwaukeo, Dolroit, aud gome othors, from which they could gef no currénoy, If the timo of re- demption wan fxod st histy days, peopl could make gooil the bills Tecelvable, Tt would bo tho grealeat good fo e greataat ausiber {0 do sometling of tho nd. of harm and MR, BPINK zend tho following diapatch Just recelvea ; 4 Throe to 4 per cont anked for curreacy.” which Tie rogarded 53 tho result of {esuing loan cortiticates, MU, OREENEUAUM £al that all he could do was to meet his creditors, Tuat was the condition others would boin, They could not givo accommodations or do any busiziess, AN, BMITIE asked if Mr, Greensbaum would pay his country cor- respondent in checks MR, CREENEBAUM said ho would cortify tho chock, ** Good through the Clearing-fouse,” ‘The only poople to be pald were thoss ~ who had omployes lving hand to mouth, Theso men must be cy on Satirday’s loan certificatos would be legal tender l{llm Clesring-House, and the currency oconomized at the banks, B, AMITIE diangreed entirely with tio view that Chicego would have less currency than those which did business un- dor suspenston, *Tho frredeemublo eirroncy of tho ‘Weat in 1861 drove out sl tho redeemablo currency or ar funds—overy dollar of it, Hls experionco was hat the poorer curroncy invarisbly drovo aut the Let- ter, 1t Chicago could atand it, ull tho ourrency would coms hiere, AR, DLAIR waa gorry to neo a dispostilon ou tho part of some of thio buuks to forco otlicra fnto this neasure, Monoy ‘was comiug hore from the country with instructiona that it bo not doposited [n tho banks, There wero some banks that were good, with $1,000,000 in the yauile, tho poople's mouoy, aud s block was abeo- lutely preventing others from meoting tholr ongages monts, It wan all wrong to keep monoy locked up in vaults, utterly wrong. ‘M, Greonobaum moved $o adjourn until to-morrow (tuie) ovening, but WANTED TO BPEAK, A, AUNAEY To bolioved that with a Jittlo tlioughit woine form of cortificato, which would ho mudo redvonsble whes tho money was obaolutely neaded, cauld bo gotten, and 1t would undoubtedly rolioye bresent neecrsitics, Tho town-meoting styla of doing bisiuess woull never nccomplish thint object. It required some calm delib- oration, ifto shotion to adjoura wss lost on tho call of tho oas and noys, T Greonohanm moved thiat a_committes of ive bo appofutod to roport a plan of action,—that Committco 14 Foport this morning or this ovening to the udjourned moting, 1. Gago was compellod to call back somo of those who voted againet udjourmmant, in order to got enough togothior to talk to, MR 1A TOLMES sald as ono of tho weak sitors hohad not yontured lis oplnton upon tho situstion, but tho conditlon of tho clty wan very torriblo, Bt with roporlors proe- ont, somo Inclitod to distort and milerepresont tho meétiung, thoy could not siford to adjourn without concertoductlon, New York could send hur currency out Docause Lo banks could clear thomselves at the Glears fng-Houno with certifeatew, whitlo Olilcao could ot sed aut currency bocauso ¥hio wus afrald of being caught In the Gieurlug-Touse, Ohieago, if slio would wave hor~ self front being druined of hor currency, mustdo us other citios wory doing, A, VAR d1d not neo why mon who had faited to clear, aud woro virtually out of s Amsocation, plould com hers and dictntoaction, Aud then Nr,'Blulr wade somo very unpleassnt remarke abuut being * busted,” until called toorder by the Ohair, And, although ‘correctod by tho Ohulr, continvod. ML, HOLMES Toplisi that the Manufsctucers’ Natlonal Dauk would undoubtedly go fnfo liquidation, aud nover open it doors agatn, - Ho biad uot spuken wutll tie weotivg ap- UMBER 37. peared to bo making taolf ridiculous by leaving the Toom without notlon, I, OREENENAUM moved to reacind tho voto inken the other night, committing thie Asaoclation fo tho policy of not paying currency, Mr, Rimsoy told him to * go slow.” Mr. Greenebnum sodd something mustbo done, 1o moved that tho Chafrman appoint s committen 1o arrango & plan for cerllficates satisfactory to overy- body, Thio motion_provalled, nnd_thio Ohalr appointed an stch Committea: Mr, Ttimey, of thio Corn Exchangos Str, Lombard, of tho Fiftl ¢ DY, Ruftor,of tha Traders’$ M. Glarko,of tho Hiberniun j and Mr, Greoncbaum, of thg Germnt) Nationol. Tho meeting then adjourned until 8 o'clock this ovening, when {he Committeo will roport, AFTER THE ADJOURNMENT, soveral of tiio bnk officors remained i tho foom, In- cluding Mr, Goolbaugh nnd Merers, Rauttor, Clark, aud Lombnkd, of tho Commitice, The mutter was dinoues- o, and §t wag fuforinaly undoratood that the Coms mitfce, or at loast tho wmnjority thereof, would roport To-uight In favor of tho adoption of o plun eimilar lo {lio Mew York systom, und that tho checks shall Lo puid only through thio Clearing-louse, s ) THE SITUATION YESTERDAY. At 10 o%clock yoatordny mmorming 1b was announced from the Clearing-1louse that,on uccount of the exiraore dinary ettuation, uo deposlta would for the prescnt bo recolved and no chocks would bo pald by tho following bauka: Unlon Nations! Bank, Cook County Nutfonal Tank, Sccond Notloun) Bunk, Manufacturers’ National Bank, Natlonal Bank of Commierce, Bolow wiil bo found tho result of our Teporier's e%. ‘plorations amonx tho banks yesterday : The Union National. The Unfon Nationa) Buuk waa the contre of interest and excltement yesterday, belng justly rogarded us tho glant 1u tho new movoof suspension, wloso ro- luctant example was unwillingly followed by lces ‘powerful and Influential inatitutions, When the doors wwera opened at 10 o'clock in the morning, thero was a Iorgo crowd about tho bullding, just opposito tho Clinmber of Commerco, all puxious and Wneasy, as tho report of its suspension, which was then confirmed, hnd proviously beon communicatod from mouth to caron tho sidowalk marts, Assoon ns tho mnxious onen stepped Into tho bank hall, tho following omiuous notico and oxplanntory placard grected them in & holt- dozen places, posted on tho glass counter-guards, UxtoN NATIONAL DANK, CilIcAUO, Scpl. 20, 1878,— Owiny 10 tho actéve and {ncreasing demand by onr de- powltors for eurrenicy over the counter, and tho re- Guirements of onr country correspondents, which wo fto 1o way of continuing for any conalderablo length of timo to meet, wo aro under the painful uecm(ty of suspending furthor business for the presemt, The difiiculty of making the balinces duo us fronmt oflier cltice immedintely available, thie tomporury cutting off yirtually of all our ordinary supplics of currency, and thio want of uny future concert of action amongst tho ‘banks {hat have honorably paid all their checks and nettlod thelr balances at ‘tho Clearing-Ifonse, secm to leavo ua no altornative. Inadopling tho course wo bave, wo beliove we act for tho best intereats of aour_ dopositors, as_well as our stockholders.' Tho bauk Is perfectly solvent, hus mot with no loases by tho recont suspeneions fn tho Enst, or elsewhoro, and has 3n cash aud gopd demanil and timo paper) ‘maturing within sixty days, abundant asseti to pay all its llabllitics to depositors, {cn\'lng ita capital stock and surplus unimpaired, It canuvot, howover, in a time of wldu_asrfind financial disturbance like the present, pay all §ta depositors in full at once, without negotiating or selling a large portion of it bills recelvable, and this Is impossiblo, All collectious in our hauds ma- turing in (ho noxt fow days, sud )l remittances re~ celved by ua will be turned ovor, uuless otherwiso or- dored, to tho_Merchauts' Savings, Loan,and Trust Company, If permatted, we will procced, witliout un« necensory delay, to scttle fairly and fully with all our doposltors, W. F. CooLuavoi, President, C. T, WiEELER, Viee-President, . A, Ives, Cashier, During tho morning thero was much qulst excito- ‘ment among tho visitors to the bank, but, whatever ita frienda nnd patrona thought in condemnation of the nction faken, they wisely withheld from boistorous or public expression, Men looked aolemn, but endeavor- d tosmiloin the fuco of tempoiary disappolntmont, or frown down tho fear of approbended disaster. De- foro 11 o'clock a large number of sympathizing Irlends called upon Mr. Coolbaugh, who was calmly master of the provoking altuation, prescrving an equablo temper and unrufed front, and, with hand-shaking warm and scamingly sincere, congratulated him on fho bold stand ho bad assumed, professing to regard it as tho most feasible and wiso solution of pending dieuliics, To oll euch, Mr Coolbaugh deliberatcly ro- sponded that the Union Natlomal had deter- mined upon tho courso ndopted only after tho most careful servoy of the situstion, snd consider- ation of its consequences. Personally, bo felt perfectly Gonfideat of tho wiadom of the, aclio, Whick, b ro peatedly reiterated, ind been taken solely for the pro- tection Of the intereats of the city, tho bunk, its stock- holders, and depositors, He expressed the moat fer- foct confidence that the wiedom of the course pursued would be speedily acknowledged b{ all the bauks jn the city, and be speedily indorsed ond followed by upanimous action, Ile ywas fully conscious, he said ta muny, that 18 action would bo overely criticized, but ho liad acted on his deliberate Judgment, 'snd uzarded lis reputation on_tho judiclowsnesa of the temporary suspensiom, In roply to rumors as to the standing ot tho bauk, and its comparativoability to meot obligations in o reasouablo Hme, ho reforred to the above quoted stateneht, to which heo had at- tached his signaturo, and, 88 an evidence of its stand- ing and reputation in the East, ho exhibited tho fol lowing dispaich selt-explanslors, Tecelvod about 11 o'clocks % Ngw Yont, Sopt. 20—11:08 0. m,~You may draw for ha £ o mililon of dollars on fho Metropolitan N« tdonal Iank over aud above your balunce, 43, E, WiLriaus, President,” 14 Thie,”sald e does ot ook s tiongla wo ad led,” faf Tn reply to Inquirles sddreksed by o TRIDUNE ro- porter, Mr, Coolbaugh terscly, and_withal plessuntly, responded to the following efYect, Mis lunguage is not pretended to bo quoted, MHad the drain of currency from thia ity coutinned while every other city In tho country was busbanding and sccrting 1ts eurrency, thougl Ohicago, richly situnted, might sustain heraeif for & faw days, an overwhelming defeat would be the inevitable result, True, slo Lus to-day the cereals thnt would command cash, but when received it would ‘be instuntly paid out, not to return, but to bo hoarded agaiust fho doy whoh Chicago's TESOUrCes were ess hausted, Chicago could do mognificently many things, but she could not stand out agaiust thie action of every olber city {n the nation, To pay out currency until eha was exbausted and nllow her cash to b gathered info the strong boxes of other cities, or hoarded in tho safes of villages, might majn- tain for Chicago an enviable temporary supremacy, Lut it would be the gratificatlon of an honorable pride at tho expense of her immediate futuro safety, and place her evestually helplessly in the power of thoro ‘who would not be slow to take advantageof her naked- noss, Prosent suspension lo regurded s the only coureo for future sceurity, In response ta the inquiry, prompted by street Tu- ‘mor, as to whether tho Unfon Nutional orany of ita officers had ongaged n grain shipnients, partieular] of corn, to the East, on Thursday, Mr. Coolbaug] eadd suth was not tho case, A number of dealers, Dby thelr Sulgment and his sccording sdvice, hod mado such shipments of coreala, on which the bank hnd madoadvunices, and this hud been done for the relicf of both individuals and tho bank, in tho hopo of Tecelving thospeedlest returns of currency, Mr.Cools ‘bangh ropeatedly atnted to busitiess mon that the Pus. nsion was not an immedinto necessity resulling from {:u dopletion of the treusure in tho bunk vaults, but a recatitionary measure to coneerve tho futerests of ull 1o Do atortod immedintcly oF ramoiely by tho presor- vation of the bank. After 11 o’clock in the morning, a couple of blue-coated officlals, with thestarry insig- uia of municipal suthority on their breasts, were Josted in tho bank toawoany rash fudividuul who might attempt sensational display” of rash luwlessnes, but, Tiappily, tholr Rervices woro not noedud, aud porfect lat wnd ordor wuu mujulaincd in the bauk during s Tho Socond Natlonal. 4 Entering tho Sucond Nutlonl, tho roporter fotind s fow businoss gontlemen quletly setiling uecounts, Tho Dusk had this oninous stmall pou-placard posted on fho frunt gles~loor s No deposits roceived or cur- reney puld out. Thio bunk had ordered tho posting beforo the operi- ing hour, tho notice belug the result of » couferonco of tho officers and Dircotors on tho provious oveniury “Tho Cashier, Mr, Juhu P, McGregor, atated to thy ree ‘portor thiat the buuk had earuently endeavored {0 stom tho tide and keep compuny witl thoso who wero o bravoly, though hazardously, broasting tho waves, Tts managers bud bosn fn fuvor of o suspension when tho storm buret upou tho country, bul had reluotantly yioldod to tho deciston of tho Gleariug 1ouso Assocl~ ton, agatust Lis own Judgmont, They woro slncorely sorey uccossity hind compolied thom to closo thelr buelness, nud hoped to bo permitted to so aidjust af- falrs a4 would anablo them to Feaumo withont Joss to thair stockholders or doposltors, During tho past weolt ho eald tho bank bad pald out moro thau ouos iz of its doposits which was mora thau ita remsrvo fund, 1t had beon found fmposalblo to_ rosiat ho dov mand of dopositors, and thoir depleted yalts, in the abwenco of any dnntdiato hopo of roatizing m coltit- orals und_scouriticn, hod warned thom of ho unocessity of comploto fufluro Or femporary suspension, ‘They Were now sottiug up us bost they could with ereditors and deblors, ex unging paper ad 1oto vabues (or u Larmonions adjustmont, 4he bank was solyent, and in tim could mest al its obligations, but ta cuablo 1€ to do so thers must bo a_genorous forbearanco un the part of creditors. If hvy wero not intorforud with By any fil-iempored_creditor, $he bank would maks adjnsimonts uu satisfactory and rapldly sy possiblo, :. This conrso was being pursivd (hrough tho dus, and the measuro wan boing_roceived with eomparative resfgnation, if not sl fsfaction, Mr, MeGregor {uonght it it was 1dlo and tho extretie of folly for iny [Continued on the Fifth Page.) =